Your Grandfather Left You an Inheritance That Will Provide an Annual

question 74

Multiple Choice

Your grandfather left you an inheritance that will provide an annual income for the next 10 years.You will receive the first payment one year from now in the amount of $3,000.Every year after that,the payment amount will increase by 6 percent.What is your inheritance worth to you today if you can earn 9.5 percent on your investments?

• A)$23,774.36
• B)$28,666.67
• C)$33,121.21
• D)$35,464.12
• E)$38,908.17

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Definitions:

Completed Suicide

A suicide attempt in which the individual actually kills him- or herself; the act is completed with his or her death.

Drug Overdose

The accidental or intentional consumption of a drug in quantities greater than are recommended or generally practiced, leading to severe adverse effects or death.

Firearms

Portable weapons from which projectiles are discharged by the force of an explosion, commonly used for sport, self-defense, and military use.

Suicide Rate

The proportion of individuals in a population who die as a result of suicide, often expressed per 100,000 individuals annually.